Essar Steel owes over 49,000 crore to over two dozen banks led by State Bank of India. Photo: AP Ahmedabad/Mumbai The National Company Law Appellate Tribunal (NCLAT) has directed the Ahmedabad bench of the National Company Law Tribunal (NCLT) to expedite the insolvency case filed against the Essar Steel Ltd. On Thursday, while hearing the…
January is the most difficult month of the year financially with 22% of Brits feeling under pressure, research from Equifax company TDX Group has found. More than a quarter (26%) of women flagged it as a pressure point, compared to 18% of men. Mortgage payments are peoples third biggest debt concern, mentioned by 9% of…
As the insolvency and Bankruptcy Code (IBC) completed two years, union finance minister on Thursday wrote a blog on Facebook listing out its achievements. Jaitley also targeted the previous UPA government, “The Congress left behind the legacy of an anachronic system of resolving commercial insolvency”, he wrote. “The NDA Government headed by Shri Atal Bihari…
FM observes definite improvement in lending and borrowing behaviour The finance minister Arun Jaitley has written in his personal blog about two years of Insolvency and Bankruptcy Code, while commending it from strong recoveries of bad loans. The finance minister stated that so far 1322 cases have been admitted by NCLT, while 66 have…
Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end. Accusing the Congress of leaving behind a legacy of an “anachronic system” of resolving commercial insolvency, Jaitley said the NDA government acted…
(Stock photo) Lenders must now tell customers if they can save on their mortgage Independent.ie Banks will have to tell customers if they can make savings on their mortgages under new rules which have just come into effect. https://www.independent.ie/business/personal-finance/property-mortgages/lenders-must-now-tell-customers-if-they-can-save-on-their-mortgage-37676957.html https://www.independent.ie/incoming/article37624019.ece/60110/AUTOCROP/h342/page17_property.jpg Email Banks will have to tell customers if they can make savings on their mortgages…
A shocking number of UK adults would leave it up to three years or more before seeking professional help if they were in debt, new research has revealed. A survey of 1,000 UK adults, carried out by Creditfix, the UKs largest personal insolvency practice, found that 59% of Brits would wait over two years before…
NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRCW) from February 2, 2016 through December 5, 2018, inclusive (the Class Period). The lawsuit seeks to recover damages for Yangtze…
Photo: Aniruddha Chowdhury/Mint The Insolvency and Bankruptcy Code (IBC) was introduced by the Narendra Modi government in December 2016 to expeditiously resolve claims involving insolvent companies in a bid to tackle the bad loan problem plaguing Indias banking system. Two years on, even as it continues to evolve, the legal reform has emerged largely successful.…
Around 20 Scottish businesses are set to fail each week in 2019, an industry expert has predicted, after corporate insolvencies were found to have risen dramatically in the past year. Continued uncertainty surrounding Brexit, an increase in competition and a squeeze on pricess in many sectors are all key factors, according to accountancy and business…